Existing Home Sales Slip 2.7%
Existing Home Sales | (0)
From CNN:
Existing home sales fell in August, snapping a four-month streak of increases, according to a report released Thursday.
Sales of previously-owned homes fell 2.7% last month from July, but were up 3.4% from a year ago, said the National Association of Realtors.
Sales had jumped 15.2% in the previous four months.
"This is an unpleasant surprise," said Ian Shepherdson, economist at High Frequency Economics, in a research note.
The NAR report said August home sales hit a seasonally-adjusted annual rate of 5.1 million units, down from 5.24 million in July. That's well below the analyst consensus estimate of 5.35 million annual units compiled ...
